- Export enquiries regain momentum, supporting market sentiment
- Tight spot availability strengthens sellers’ negotiating position
Indias medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices inched up by INR 300/t ($3/t) w-o-w to INR 89,100/t ($934/t) in the week ended 27 August 2026. Supplier offers stood at INR 88,800-89,300/t ($924-929/t), with around 330 t reportedly transacted within this range.
Market Overview
Improved export enquiries supported buying activity: Overseas enquiries had shown a modest improvement, encouraging exporters to engage more actively with buyers. However, most enquiries remained requirement-driven rather than inventory-led, with buyers seeking competitive offers before confirming cargoes. The improvement in enquiry flow provided sellers with some room to hold firmer prices, while the reported 330 t of transactions indicated that buyers had started accepting prevailing levels for immediate requirements.
A seller said: “Export enquiries have improved, with buyers gradually returning for their near-term requirements.”
Limited spot availability supported seller resistance: Limited prompt availability had also supported prices, as producers were not under significant pressure to liquidate material despite cautious demand. Recent market assessments have similarly highlighted limited spot supply as a factor supporting Indian SiMn prices. With sellers facing fewer readily available tonnes in the spot market, buyers had less scope to push offers significantly lower, helping the market edge up.
Outlook
Medium-carbon SiMn prices are likely to remain firm in the near term, with further gains dependent on stronger overseas enquiries and improved conversion of current enquiries into confirmed export orders.
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